Corporate Governance
“Corporate Governance has high priority at LUDWIG BECK. For years we have followed the Code’s recommendations and have fully complied with them.”
Dr. Joachim Hausser, Chairman of the Supervisory Board.
Questions of corporate governance and control enjoy high attention with good reason and are presented under the heading ‘Corporate Governance’. The German Corporate Governance Code not only contains important legal provisions concerning the management and control of German listed companies (corporate governance) but also internationally and nationally acknowledged standards of good and responsible corporate governance.
The acceptance of these principles enhances and deepens the trust of shareholders in German enterprises. Openness, transparency and respect for the shareholders’ interests are major contributors to good and responsible corporate governance within the meaning of the Code.
Framework conditions at a glimpse
The German Corporate Governance Code has six chapters with a total of 71 recommendations and suggestions. Recommendations in the Code are marked by use of the word “shall”. Companies can deviate from them, but are obliged to disclose this annually. For suggestions the term “can” is used. Companies are free to implement them or not without being obliged to disclose any non-compliance.
Generally, the Code is revised on an annual basis in light of national and international developments and amended if necessary – the last amendment dating from May 26, 2010.
The full wording of the German Corporate Governance Code as well as a lot of detailed information around Corporate Governance can be found on the website: corporate-governance-code.de.
Dr. Joachim Hausser, Chairman of the Supervisory Board.
Questions of corporate governance and control enjoy high attention with good reason and are presented under the heading ‘Corporate Governance’. The German Corporate Governance Code not only contains important legal provisions concerning the management and control of German listed companies (corporate governance) but also internationally and nationally acknowledged standards of good and responsible corporate governance.
The acceptance of these principles enhances and deepens the trust of shareholders in German enterprises. Openness, transparency and respect for the shareholders’ interests are major contributors to good and responsible corporate governance within the meaning of the Code.
Framework conditions at a glimpse
The German Corporate Governance Code has six chapters with a total of 71 recommendations and suggestions. Recommendations in the Code are marked by use of the word “shall”. Companies can deviate from them, but are obliged to disclose this annually. For suggestions the term “can” is used. Companies are free to implement them or not without being obliged to disclose any non-compliance.
Generally, the Code is revised on an annual basis in light of national and international developments and amended if necessary – the last amendment dating from May 26, 2010.
The full wording of the German Corporate Governance Code as well as a lot of detailed information around Corporate Governance can be found on the website: corporate-governance-code.de.